FSA

This week the Financial Services Authority hit private bank Coutts with an £8.75m fine after it found the bank had failed to operate in a way which prevented money laundering.

The number of complaints related to advising, selling and arranging rocketed from 647,000 in the first half of last year to almost 1.1 million in the second half, according to figures released by the FSA today.

GRIPES

The Financial Services Authority (FSA) has fined Coutts & Company £8.75m for failing to take reasonable care to establish and maintain effective anti-money laundering (AML) systems and controls.

The Financial Services Authority (FSA) is readying at least one 'mega fine' in the next three months as figures show it raised significantly less than usual in the first quarter of 2012.

Prudential has been forced on the defensive over an e-mail sent to thousands of staff in which a senior executive appears to make a series of disparaging remarks about FSA policies.

The FSA is to look into charges levied by UK fund management groups after its head of investments policy queried why they have been rising in recent years.

Former directors of failed banks could be banned from taking lucrative jobs in the City under plans being drawn up by the regulator.

The Financial Services Authority is to explore changes to the client assets regime in the wake of the Lehman Brothers collapse.

The Financial Services Authority (FSA) has won a £32m judgment against the individuals behind three land banking operations, although it has warned investors are unlikely to recover most of the money.